Tuesday

Tuesday feature was lower inflation news and talk that the FED is done hiking.  Dow went on a joyride for 502 points, 34,887.  Have to say I thought the equities looked tired on Monday trade and I missed that one by a mile.  Bonds pop 2 points and 5 tics, 115.14, but funny that the move is just back near top of recent range and not a blow thru.  Spread really doesn't reflect an eminent Fed rate drop either, so the big money bond boys aren't nearly as convinced as the general public.  Beans up 7 1/4 to 1389 3/4 with a bean oil bid in tow.  Corn struggled to gain a penny, 478 1/4 and wheat dropped 7 to 572.  Nov rice went off with no fanfare and Jan was up 3 at the close, 1677 1/2.  We really need the river to rise.